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Author: William Thomson Publisher: Springer ISBN: 9783031293979 Category : Business & Economics Languages : en Pages : 0
Book Description
This textbook is Volume 1 of a two-volume set on the axiomatics of economic design. Its central argument is that economic institutions are not God-given: they are man-made. Their ultimate goal is to promote social welfare. The book describes the axiomatic approach to design. It consists in the formulation of criteria of desirability of solution mappings, and of the examination of their logical implications when imposed in various combinations. Its goal is to identify as precisely as possible the line that separates those combinations of desiderata that are compatible and those that are not. The end product of axiomatic work are menus of choices for practitioners to choose from when they have to make a decision. The first volume offers pedagogical coverage of the axiomatic approach to economic design, in the form of answers to questions posed by a young person curious about it. It introduces readers to what motivates economic design. It continues with the mathematical representation of a class of allocation problems. The bulk of the volume is to present structured inventories of the field of axioms, arranged by format first, and content next. These chapters are followed by a user's manual on the axiomatic method. Lastly, the volume discusses how economic design can be aided by other disciplines, in particular philosophy, mathematics, and computer science.
Author: William Thomson Publisher: Springer ISBN: 9783031293979 Category : Business & Economics Languages : en Pages : 0
Book Description
This textbook is Volume 1 of a two-volume set on the axiomatics of economic design. Its central argument is that economic institutions are not God-given: they are man-made. Their ultimate goal is to promote social welfare. The book describes the axiomatic approach to design. It consists in the formulation of criteria of desirability of solution mappings, and of the examination of their logical implications when imposed in various combinations. Its goal is to identify as precisely as possible the line that separates those combinations of desiderata that are compatible and those that are not. The end product of axiomatic work are menus of choices for practitioners to choose from when they have to make a decision. The first volume offers pedagogical coverage of the axiomatic approach to economic design, in the form of answers to questions posed by a young person curious about it. It introduces readers to what motivates economic design. It continues with the mathematical representation of a class of allocation problems. The bulk of the volume is to present structured inventories of the field of axioms, arranged by format first, and content next. These chapters are followed by a user's manual on the axiomatic method. Lastly, the volume discusses how economic design can be aided by other disciplines, in particular philosophy, mathematics, and computer science.
Author: Marc Fleurbaey Publisher: Springer Nature ISBN: 3030627691 Category : Business & Economics Languages : en Pages : 334
Book Description
This volume presents interviews that have been conducted from the 1980s to the present with important scholars of social choice and welfare theory. Starting with a brief history of social choice and welfare theory written by the book editors, it features 15 conversations with four Nobel Laureates and other key scholars in the discipline. The volume is divided into two parts. The first part presents four conversations with the founding fathers of modern social choice and welfare theory: Kenneth Arrow, John Harsanyi, Paul Samuelson, and Amartya Sen. The second part includes conversations with scholars who made important contributions to the discipline from the early 1970s onwards. This book will appeal to anyone interested in the history of economics, and the history of social choice and welfare theory in particular.
Author: Jean-François Laslier Publisher: Springer Nature ISBN: 3030180506 Category : Business & Economics Languages : en Pages : 507
Book Description
This collection of essays represents responses by over eighty scholars to an unusual request: give your high level assessment of the field of economic design, as broadly construed. Where do we come from? Where do we go from here? The book editors invited short, informal reflections expressing deeply felt but hard to demonstrate opinions, unsupported speculation, and controversial views of a kind one might not normally risk submitting for review. The contributors – both senior researchers who have shaped the field and promising, younger researchers – responded with a diverse collection of provocative pieces, including: retrospective assessments or surveys of the field; opinion papers; reflections on critical points for the development of the discipline; proposals for the immediate future; "science fiction"; and many more. The readers should have fun reading these unusual pieces – as much as the contributors enjoyed writing them.
Author: Roger D. Congleton Publisher: ISBN: 0190469730 Category : Business & Economics Languages : en Pages : 985
Book Description
"This two-volume collection provides a comprehensive overview of the past seventy years of public choice research, written by experts in the fields surveyed. The individual chapters are more than simple surveys, but provide readers with both a sense of the progress made and puzzles that remain. Most are written with upper level undergraduate and graduate students in economics and political science in mind, but many are completely accessible to non-expert readers who are interested in Public Choice research. The two-volume set will be of broad interest to social scientists, policy analysts, and historians"--
Author: Shuo-Yan Chou Publisher: Springer Science & Business Media ISBN: 1848827628 Category : Technology & Engineering Languages : en Pages : 877
Book Description
Global Perspective for Competitive Enterprise, Economy and Ecology addresses the general theme of the Concurrent Engineering (CE) 2009 Conference – the need for global advancements in the areas of competitive enterprise, economy and ecology. The proceedings contain 84 papers, which vary from the theoretical and conceptual to the practical and industrial. The content of this volume reflects the genuine variety of issues related to current CE methods and phenomena. Global Perspective for Competitive Enterprise, Economy and Ecology will therefore enable researchers, industry practitioners, postgraduate students and advanced undergraduates to build their own view of the inherent problems and methods in CE.
Author: Marc Fleurbaey Publisher: Routledge ISBN: 1134733577 Category : Business & Economics Languages : en Pages : 295
Book Description
This book presents a range of papers by philosophers and economists who consider the definition and value of liberty; freedom in rights and equality of opportunity. Until recently freedom has played no explicit role in the conceptual framework of economists, however freedom seems to be at the heart of economics. The book provides a substantial contribution to the fruitful dialogue between the philosophy and economics in this area. Each chapter is integrated being followed by comments which explore the underlying debates. Contributors are French economists, philosophers and political scientists, as well as authors from Belgium and the Netherlands.
Author: Ulrich Schmidt Publisher: Springer Science & Business Media ISBN: 3642588778 Category : Business & Economics Languages : en Pages : 216
Book Description
The first attempts to develop a utility theory for choice situations under risk were undertaken by Cramer (1728) and Bernoulli (1738). Considering the famous St. Petersburg Paradox! - a lottery with an infinite expected monetary value -Bernoulli (1738, p. 209) observed that most people would not spend a significant amount of money to engage in that gamble. To account for this observation, Bernoulli (1738, pp. 199-201) proposed that the expected monetary value has to be replaced by the expected utility ("moral expectation") as the relevant criterion for decision making under risk. However, Bernoulli's 2 argument and particularly his choice of a logarithmic utility function seem to be rather arbitrary since they are based entirely on intuitively 3 appealing examples. Not until two centuries later, did von Neumann and Morgenstern (1947) prove that if the preferences of the decision maker satisfy cer tain assumptions they can be represented by the expected value of a real-valued utility function defined on the set of consequences. Despite the identical mathematical form of expected utility, the theory of von Neumann and Morgenstern and Bernoulli's approach have, however, IFor comprehensive discussions of this paradox cf. Menger (1934), Samuelson (1960), (1977), Shapley (1977a), Aumann (1977), Jorland (1987), and Zabell (1987). 2Cramer (1728, p. 212), on the other hand, proposed that the utility of an amount of money is given by the square root of this amount.
Author: Martin J. Osborne Publisher: Open Book Publishers ISBN: 180511123X Category : Business & Economics Languages : en Pages : 382
Book Description
Models in Microeconomic Theory covers basic models in current microeconomic theory. Part I (Chapters 1-7) presents models of an economic agent, discussing abstract models of preferences, choice, and decision making under uncertainty, before turning to models of the consumer, the producer, and monopoly. Part II (Chapters 8-14) introduces the concept of equilibrium, beginning, unconventionally, with the models of the jungle and an economy with indivisible goods, and continuing with models of an exchange economy, equilibrium with rational expectations, and an economy with asymmetric information. Part III (Chapters 15-16) provides an introduction to game theory, covering strategic and extensive games and the concepts of Nash equilibrium and subgame perfect equilibrium. Part IV (Chapters 17-20) gives a taste of the topics of mechanism design, matching, the axiomatic analysis of economic systems, and social choice. The book focuses on the concepts of model and equilibrium. It states models and results precisely, and provides proofs for all results. It uses only elementary mathematics (with almost no calculus), although many of the proofs involve sustained logical arguments. It includes about 150 exercises. With its formal but accessible style, this textbook is designed for undergraduate students of microeconomics at intermediate and advanced levels.
Author: William Thomson
Author: William Thomson
Author: William Thomson
Author: Marc Fleurbaey
Author: Jean-François Laslier
Author: Roger D. Congleton
Author: Shuo-Yan Chou
Author: Marc Fleurbaey
Author: Ulrich Schmidt
Author: Mary Kathryn Thompson
Author: Martin J. Osborne